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NVAX

Novavax

$157.30 /

+1.13 (+0.72%)

06:42
08/05/20
08/05
06:42
08/05/20
06:42

JPMorgan upgrades Novavax on potential 'best-in-class' COVID vaccine

JPMorgan analyst Eric Joseph upgraded Novavax to Overweight from Neutral with a price target of $275, up from $105. The stock in premarket trading is up 17%, or $26.83, to $184.00. The analyst is "pleasantly impressed" by last night's initial immunogenicity/safety profile for NVX-CoV2373 in the Phase 1 COVID-19 vaccine results. It is "not too far a stretch" to conclude the activity of NVX-CoV2373 "looks best-in-class," particularly when anchored to one of the more "stringent" human convalescent sera cohorts reported to date, Joseph tells investors in a research note. On safety, the analyst views the tolerability profile of both doses "as comfortably within the bounds of licensure-eligible candidate." He believes "relative valuations" favor Novavax over the near-term ahead of the first of the competitor Phase 3 COVID-19 vaccine efficacy readouts.

NVAX Novavax
$157.30 /

+1.13 (+0.72%)

08/05/20 Ladenburg
Ladenburg downgrades Novavax to Sell with $105 target after vaccine data
08/05/20 Ladenburg
Novavax downgraded to Sell from Neutral at Ladenburg
08/05/20 JPMorgan
Novavax upgraded to Overweight from Neutral at JPMorgan
07/16/20 B. Riley FBR
Novavax price target raised to $155 from $106 at B. Riley FBR

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